Nodes will receive a proportion of marketplace fees (royalty fees) and LAVA token (transaction fees)
Elysium is a 100% carbon neutral blockchain by Vulcan Forged. It strives to provide a dynamic blockchain ecosystem to NFTs and gaming projects. To fulfill this goal, Vulcan Forged has made a great effort, including launching the Elysium Nodes Program. This program will allow different stakeholders and contributors in the ecosystem to earn rewards in various ways.
- Top dapps on Vulcan Forged have been gaining traction.
- The Elysium Nodes Program consists of three types of nodes, Cronus, Demeter, and Typhon, offering different rewards.
- The rewards come from transaction fees generated from using the Elysium blockchain, fees from the NFT marketplace, and the costs collected from sowing.
- God, Vulcanite, and Gem NFTs can boost users’ rewards.
Blockchain gaming is transforming the game industry by enabling players to own their digital assets and receive monetary rewards. This revolutionary innovation has led players to flock to on-chain games, which further attracted the attention of capital. Notably, investors poured $2.5 billion into blockchain gaming in Q1 2022, according to DappRadar’s Q1 Blockchain Game Report.
The same report also revealed that blockchain games registered 1.22 million unique active wallets in March alone. What’s more the use of blockchain games recorded a whopping 2,000% increase compared to Q1 2021. The staggering numbers also show that competition in this industry has been heating up, with exciting projects emerging one after another. Among them, the Elysium blockchain by Vulcan Forged, featuring carbon neutrality, game-centricity, and a community-driven approach, stands out as a rock-solid blockchain solution for NFTs and gaming projects to thrive.
The picture below shows that top dapps in the Vulcan Forged ecosystem have increased in popularity over the past 30 days, with VulcanVerse rising by 42% in user numbers, Forge Arena by 69%, and Berserk by 16%.
Lately, Vulcan Forged introduced the Elysium Node Program, a comprehensive rewarding system that will benefit different stakeholders in the Vulcan Forged ecosystem. This article will explain different types of Elysium nodes with their corresponding benefits and how to participate.
Elysium is a proof-of-authority blockchain that consists of 51 authority nodes, the Cronus nodes. They serve as the Elysium blockchain validators that assist in processing and validating transaction blocks. Cronus Nodes require owners to be known entities, such as partners, game developers, Vulcan Philosophers, respected community contributors, venture capitalists, etc. The Cronus Node is a physical node. Elysium will provide the hardware and special software required for running the nodes. It is worth mentioning that Elysium is a green blockchain. Therefore it will only use carbon-neutral data centers and servers for hosting the hardware.
Requirements for running Cronus Node
Cronus Nodes are crucial to the Elysium network. Therefore, only validated entities can run one and they should actively contribute to the future of Elysium. It’s worth mentioning that there will be a maximum of 51 Cronus nodes. An entity needs to meet the following requirements to run a Cronus Node:
- Full KYC is required.
- The Vulcan Forged and Elysium compliance team will validate the entity before approval.
- Node hardware hosting should use a 100% carbon neutral solution.
- The owner must stake at least 50,000 PYR in the node’s wallet address. If the owner moves or spends PYR, causing the total amount to drop below this threshold, the owner will be disqualified and replaced by another candidate on the waiting list.
Elysium will consider applicants from the following groups:
- Partners using Elysium.
- Game developers or companies creating games on Elysium.
- Community contributors (needs to be significant).
- Vulcan Philosophers (limited slots available).
- VCs with long-term commitment to add value to Elysium.
Cronus Node rewards
Cronus nodes are the safeguard of the Elysium blockchain. As a result, their operators will be rewarded with a more significant portion of the pools. It is also worth noticing that in addition to earning from the LAVA Reward Pool, all Cronus Nodes can participate in the God Pool and NFT Pool for bonus rewards.
VulcanVerse landowners can participate in the Elysium Node Program as Demeter Nodes. Land plot owners with lands from levels 4 to 7 will receive LAVA tokens as rewards. It is essential to point out that this won’t affect the land staking program.
Requirements for Demeter Node
- Land changing ownership will trigger a 3-month cooling down period for the plot. The plot can not receive any LAVA from the reward pool during the cooling-down.
- The landowner needs to earn at least 200 XP daily to become eligible for the Demeter node rewards pool. Users can play Vulcan Forged ecosystem games regularly to earn XP. Moreover, your Cedalion, someone who borrows your NFT assets, can also bring you XP.
Demeter Node rewards
10% of all transaction fees generated on the Elysium blockchain will be divided among Demeter Nodes. A Demeter reward pool is dedicated to this distribution. Notably, reward distribution takes place weekly, and the amount someone receives depends on the land’s level. The detailed distribution is as follows:
- Level 4 plots: 10% of the Demeter reward pool
- Level 5 plots: 18% of the Demeter reward pool
- Level 6 plots: 28% of the Demeter reward pool
- Level 7 plots: 44% of the Demeter reward pool
Moreover, all Demeter Nodes can participate in the God Pool and NFT Pool.
Elysium introduced Typhon Node for those who stake PYR for LAVA.
Requirement for Typhon Node
There are six tiers depending on how much PYR users choose to stake. The more PYR one stakes, the more rewards one can receive. Locking one’s PYR for a certain period can increase the rewards. The tiers and their corresponding staking requirement are as follows:
- Cyclops tier 1 node: 2,000 PYR
- Sphinx tier 2 node: 4,000 PYR
- Cerberus tier 3 node: 8,000 PYR
- Gorgon tier 4 node: 16,000 PYR
- Hydra tier 5 node: 32,000 PYR
- Kraken tier 6 node: 64,000 PYR
Typhon Node rewards:
- Part of the transaction fees generated on the Elysium blockchain will be divided among all Typhon Nodes.
- Part of the royalty fees generated by the Elysium marketplace will be divided among all Typhon Nodes.
In addition, all Typhon Nodes can participate in the LAVA reward pool, God Pool, and NFT Pool.
Elysium Nodes Program reward pools
Elysium Node Program’s rewards come from different sources. For example, when using the Elysium blockchain, users need to pay fees in LAVA. This partly goes to the Elysium Node Program LAVA Reward Pool for future reward distribution. Apart from that, Elysium blockchain collects a 2% royalty fee from all the NFTs sold on the ecosystem’s marketplace, which also adds to the LAVA Pool. Furthermore, Vulcan recently started to charge part of the sowing costs, which is paid in LAVA, and 80% of it will flow into the Elysium node pool.
The three reward sources mentioned above will be distributed in the following structure：
The blockchain transaction fee:
- 50% goes to Cronus and Typhon Nodes.
- 10% goes to Demeter Nodes.
- 10% goes to the Vulcan Forged gaming pools.
- 10% is for donation to the Elysium ecological & environmental pool.
- 20% is burned.
The royalty fees:
- 50% is distributed as rewards for all nodes
- 40% goes to the foundation treasury
- 10% is for donation to the Elysium ecological & environmental pool
The sowing fees:
- 20% is burned
- 80% goes to Cronus and Typhon Nodes
Gods, Vulcanites, and gem NFTs can boost your rewards
Vulcan gods can help boost users’ staking income. Zeus will grant holders another 15% more staking rewards and other Gods 5% more. This God Pool applies to Cronus, Demeter, and Typhon nodes.
Vulcanites and OG badge holders can also boost their staking income with these NFTs. The higher level of the Vulcanite, the bigger booster it can generate. For example, level 1 Vulcanite can provide 1% more in staking rewards. For each level up, the reward increases by 0.25%. As a result, a Level 6 Vulcanite can get you 2.25% more in staking rewards. However, users can only have no more than five Vulcanites to boost the rewards, and the maximum bonus is 10%.
Moreover, an OG Badge can add another 2.5% staking power for the total reward, but it is not stackable.
The last one in the NFT pool is the Gem Multiplier. These NFTs can also offer a bonus reward. They will either bring users a certain extra amount of LAVA tokens or increase the total price by a percentage. For example, with a basic multiplier NFT, users can earn another 30 LAVA monthly, while Mythic multiplier NFTs will increase users’ God Pool reward by 1%.
Vulcan Forged aims to build a more inclusive and community-driven blockchain economy through its Node Program. This program allows different stakeholders to gain rewards based on their needs and preferences. Therefore, it is not surprising to see that the program adds to the prosperity of the Vulcan Forged and Elysium ecosystem.
Find out more about Vulcan Forged, Elysium, and the Node Program through the following links:
Disclaimer — This is a sponsored article. DappRadar does not endorse any content or product on this page. DappRadar aims to provide accurate information, but readers should always do their own research before taking action. Articles by DappRadar can not be considered as investment advice.